Standard Bank Group signed a US$250 million loan agreement with the Japan Bank for International Cooperation (JBIC). The credit line is co-financed by Mizuho Bank, Ltd, with JBIC providing a partial guarantee for the co-financed portion. The funding will be used by Standard Bank Group to on-lend to green energy projects in sub-Saharan Africa. The
Multi-banking is becoming a common trend in South Africa as various businesses, public sector institutions as well as individuals prefer to bank with more than one banking partner. According to an annual business tracking survey done by TMS, 14% of small businesses do not have a ‘main bank’ and this is also prevalent in 26%
In line with Sub-Saharan Africa’s (SSA) projected economic growth of 4.9%(1) this year, which is double the projection for advanced economies (2.4%), DHL SSA expects 2015 to be a year of growth for the logistics industry on the African continent, largely driven by increased consumer demand and the rapidly developing e-commerce industry. This is according
Verifone Mobile Money and MTN Group, announced an agreement to deliver retail payment devices to merchants across 16 of MTN’s operating countries. The solution will enable customers to pay for goods and services using their mobile phone and MTN Mobile Money wallet, while merchants will be provided with payment terminal solutions from Verifone. “We are
Research shows that South Africans have a big appetite for ecommerce and find lower costs, fast and flexible delivery and more significantly, safer ways to pay to be driving influences for conducting more e-commerce purchases. A recent study conducted in South Africa by Ipsos, a global market research company, on behalf of PayPal and FNB,
FNB announced that the cardless cash withdrawal feature is available on the latest version* of the FNB Banking App. The feature allows customers to withdraw money at an ATM without using their bank cards. This launch to the 1.2million active devices that currently make use of the FNB Banking App comes shortly after FNB announced
Specialist bank, Investec, has implemented Entersekt’s multi-factor authentication product, Transakt, to boost the security of its private client mobile application. Entersekt, an innovative pioneer in transaction authentication, helped Investec reinforce the bond of trust it shares with its clients through use of the Transakt Software Development Kit (SDK). In early 2014, Investec deployed Entersekt technology
SA banks have achieved slightly higher customer satisfaction scores than last year, although expectations seem to be rising, according the South African Customer Satisfaction Index (SAcsi) released. The overall score was 76.3 out of 100 (2013: 75.6). The banks measured were FNB, Absa, Nedbank, Standard Bank and Capitec. They were selected on the basis of
ZAZOO, a business unit of Net 1 UEPS Technologies, Inc., announced that it has partnered with UBER, the innovative smartphone technology that connects riders with drivers, in South Africa. ZAZOO’s revolutionary VCpayTM mobile application enables people who do not own credit cards to create virtual MasterCards that can be used to pay for the UBER
New mobile payment platforms can provide a foundation for financial inclusion in South Africa and beyond, says David Abbott of Fiserv, a leading global provider of financial services technology solutions. But who will build the robust ecosystem required to fulfil their potential? The growing use of banking services in South Africa is driven by a
